Mirc, Videocon plan to launch new product ranges during festive season

Mirc Electronics Ltd and Videocon International are planning to launch a slew of marketing initiatives in order to spur sales growth. In addition, these companies also have plans to introduce new product ranges during the festive season.

Mirc Electronics Ltd. plans to run an Onam-focussed promotion for its entire range of ‘KY Thunder’ with special prize offerings. This will also include ‘A Four-Year Warranty’ on the purchase of any model of their existing KY Thunder range. According to industry sources, the company has invested around Rs 40 lakhs.

The company plans to launch five new CTV models by October-end this year. Mirc expect the new models to generate an additional 12 to 15 per cent to their overall sales turnover by 2003-end.

In order to create awareness for its new launches, the company plans to release new advertising campaigns during Diwali. With this move, the company expects sales (during the festive season) to contribute an additional 20 to 30 per cent to its overall sales turnover by 2003-end. To trigger consumer purchase during Diwali, the company is also planning to create a totally new ambience at its retail outlets, at an investment of Rs 2 crores.

On the other hand, Videocon International Ltd is also planning to launch a new range of 25-inch flat CTV and 34-inch Plasma CTV with the latest technology during Diwali.
According to company sources, on the purchase of any Videocon CTV during Diwali, customers will get a five per cent discount on CTVs along with gifts.

The company hopes to sell around 5,000 pieces of Plasma CTVs in a year. The festive offers and marketing plans of Plasma CTVs are expected to contribute an additional 50 per cent to the company’s overall sales turnover by 2003-end.